Senior Fellow Randy T. Simmons, co-editor of Aquanomics, looks at the battles over water in the western United States. Thirsty citizens of growing cities, farmers, factories and environmentalists are in a fight for a natural resource that is priced arbitrarily. Its value is determined not by the free market, but by bureaucrats. Outdated government reclamation projects and water policies have put residents of the Golden State at the mercy of the weather, and of government's mandatory regulations.

Full Video of The Independent Institutes 2011 25th Anniversary Gala for Liberty held November 15, 2011.Part 1: Introductory Remarks and Tribute to Robert HiggsPart 2: Tribute to Mario Vargas LlosaPart 3: History of The Independent Institute and Fund for the FuturePart 4: Tribute to Lech WalesaPart 5: Special Tributes, Sponsors, and Credits

Environmental quality has been a major public concern since the first Earth Day in 1970, yet the maze of environmental regulations enacted since has fostered huge government bureaucracies better known for waste and failure than for innovation and success.